The Railway Land Development Authority (RLDA) has decided to invite bids for the redevelopment of prime Indian Railways land in Delhi. The land will be leased for commercial and residential development.
According to RDLA, the land area is divided into three parts Part-A & Part-B (Sewa Nagar) & Lodhi Colony. Indian Railways has 202 employee quarters in Sewa Nagar and another 76 in Lodhi Colony.
16,058 square metres out of the total area of 43,345.82 square meters will be leased for residential development for a period of 99 years. The remaining 27,282.42 sqm land in Sewa Nagar Part-B will be used to redevelop the existing railway colony. Part A (Sewa Nagar) & Lodhi Colony shall be offered to the developer for commercial development.
Sewa Nagar colony site is a rectangular and plain piece of land divided into parts by the access road namely Sewa Nagar Part ‘A’ & ‘B’. The length of the site is approximately 1290m with a width varying from 25.00 – 26.50 m. On the other hand, Lodhi Colony site is located at Najaf Khan Road, is 400m long and between 25.00 – 26.50 metres wide.
Both Sewa Nagar and Lodhi Colony are close to prime real estate markets like Chanakyapuri Diplomatic Enclave and Golf Links, says RLDA.
The reserve price for the site is Rs. 355 crores. Bids are to be submitted by 26th June 2023.
